CMB: Reaffirm Kuaishou-W (01024.HK) as industry's top choice. Raise target price to 89 Hong Kong dollars.

According to the website of China Finance and Economics, J.P. Morgan released a research report stating that the core business development of Kuaishou-W (01024.HK) is stable, coupled with the growth of KuaiLing AI, it is expected to drive the company's stock price higher in the second half of the year, reiterating it as the industry's first choice, and raising the target price from HK$88 to HK$89. J.P. Morgan continues to view Kuaishou as one of the most undervalued AI stocks globally. It is currently forecasted that Kuailing AI revenue will increase on a quarterly basis in the third and fourth quarters, while the company's increased capital expenditure on Kuailing AI can also be seen as a positive signal of demand growth. J.P. Morgan also pointed out that Kuaishou's e-commerce monetization capabilities have strengthened, which will support double-digit year-on-year growth in core business revenue in the second half of the year, and they are optimistic about advertising monetization, giving it a "hold" rating.